Business Briefs

Former Kane Realty Exec Sentenced on Stolen Goods Charge

Posted September 6, 2007 1:53 p.m. EDT

— A former president of developer Kane Realty was sentenced Wednesday to 30 months in prison in a stolen goods case.

Clifford A. "Mickey" Clark, 55, of Raleigh, pleaded guilty in April to interstate transportation of stolen property. Clark served as president and chief financial officer of Kane Realty for at least five years, ending in 2002, authorities said.

The stolen goods charge stemmed from the theft of more than $1 million from Kane Realty accounts where money was in trust for the owners of retail properties managed by Kane, authorities said. Clark used much of the stolen money to finance another business venture, authorities said.